JPMorgan Lifts PT on Shell plc (SHEL) to 3,600 GBp From 3,400 GBp – Here’s Why

Group 1 - JPMorgan raised the price target on Shell plc (SHEL) to 3,600 GBp from 3,400 GBp, maintaining an Overweight rating on the shares [1] - Citi also increased its price target for Shell to 2,950 GBp from 2,700 GBp, reaffirming a Neutral rating and citing strong valuation support for global energy names due to the Middle East war [1] - Shell's fiscal Q4 2025 results showed adjusted earnings of $3.3 billion and cash flow from operations (CFFO) of $9.4 billion, driven by strong performance in Upstream and Integrated Gas [2] Group 2 - For the full year of 2025, Shell reported a resilient CFFO of $42.9 billion, indicating strong operational and financial performance [2] - Shell operates in various segments including Integrated Gas, Upstream, Marketing, Chemicals and Products, Renewables and Energy Solutions, and Corporate [3]